East African Mining News Unearthing Mining Opportunities in East Africa

Kefi Minerlas has signed on-site funding agreement for Tulu Kapi gold project in Ethiopia. The $135-million deal with Oryx Management to finance and operate all the on-site infrastructure follows Kefi’s signing of terms with the Ethiopian government to fund the building of all off-site infrastructure for the project. “Kefi has …

Canadian company First Cobalt has announced intentions to close the transaction of a strategic alliance for a 70% interest in seven prospective copper/cobalt exploration properties in the Democratic Republic of Congo (DRC). The development is expected to progress exploration in one of the world’s ‘high-reward cobalt jurisdictions’. Targeted seven properties …

Vermiculite miner Black Mountain Resources has raised $1-million, with the funds to be immediately deployed to delivering operational improvements at its Namekara mine, in Uganda. The ASX-listed miner said the funds were raised through the placement of 25-million fully paid ordinary shares at $0.04 apiece to new cornerstone investor, Investmet. …